Stock futures edge up ahead of Fed; Oracle, FedEx off

Gold, other metals under pressure; dollar falls versus pound

NEW YORK (MarketWatch) — Stock futures edged up in early trade on Wednesday, as investors took to the sidelines ahead of a policy announcement from the Federal Open Market Committee and a news conference from Chairwoman Janet Yellen due later.

Futures for the S&P 500 index
US:SPM4
rose 2.9 points to 1,866.70, while those for the Dow Jones Industrial Average
US:DJM4
were up 22 points to 16,284. Futures for the Nasdaq-100 index
US:NDM4
lifted 7.5 points to 3,702.50.

How important is market timing?

(3:29)

Much less than you might think. A new study finds that a consistent buy and hold approach can overcome even really bad luck.

“Expectations are for the tapering process to continue — something that is certainly hurting emerging markets — but the interesting points could well be hidden in the subtext of Janet Yellen’s news conference,” said Joao Monteiro, analyst at Valutrades, in a note. “There’s a need to reassure markets that interest rates won’t be hiked any time soon despite the winding in of QE, so how this is interpreted by traders will be critical in determining the reaction.”

Wall Street stocks rose for a second-straight session on Tuesday, with the S&P 500 index
SPX, +0.59%
closing just shy of all-time highs as Russia-Ukraine worries faded. The S&P 500 added 13.42 points, or 0.7%, to close at 1,872.25.

In overseas markets, Asia had a mixed day, with the Nikkei 225
NIK, +1.23%NIK, +1.23%
giving up a more than 1.2% gain at one point to close up just 0.4%, while Chinese stocks went nowhere. European markets held mostly steady, while the FTSE 100 index
UKX, +0.33%
rose after the release of minutes from the latest Bank of England Monetary Policy meeting and the latest jobs data. The British pound shot higher against the dollar
GBPUSD, -0.0954%

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.